Gamco Investors INC. ET AL held its stake in Wal-Mart Stores, Inc. (NYSE:WMT) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 47,450 shares of the retailer’s stock at the close of the second quarter. Gamco Investors INC. ET AL’s holdings in Wal-Mart Stores were worth $3,591,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Community Bank N.A. grew its holdings in shares of Wal-Mart Stores by 1.1% in the 2nd quarter. Community Bank N.A. now owns 38,880 shares of the retailer’s stock worth $2,943,000 after purchasing an additional 425 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Wal-Mart Stores by 17.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 17,608 shares of the retailer’s stock worth $1,418,000 after purchasing an additional 2,660 shares during the last quarter. Alps Advisors Inc. grew its holdings in shares of Wal-Mart Stores by 27.0% in the 2nd quarter. Alps Advisors Inc. now owns 17,024 shares of the retailer’s stock worth $1,288,000 after purchasing an additional 3,618 shares during the last quarter. LLBH Private Wealth Management LLC grew its holdings in shares of Wal-Mart Stores by 0.3% in the 2nd quarter. LLBH Private Wealth Management LLC now owns 7,843 shares of the retailer’s stock worth $594,000 after purchasing an additional 24 shares during the last quarter. Finally, Northpointe Capital LLC grew its holdings in shares of Wal-Mart Stores by 69.4% in the 2nd quarter. Northpointe Capital LLC now owns 68,551 shares of the retailer’s stock worth $5,188,000 after purchasing an additional 28,091 shares during the last quarter. Institutional investors own 30.16% of the company’s stock.
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WMT has been the topic of several analyst reports. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Wal-Mart Stores in a report on Tuesday, June 27th. Vetr raised shares of Wal-Mart Stores from a “sell” rating to a “hold” rating and set a $71.15 target price on the stock in a report on Monday, July 10th. BidaskClub lowered shares of Wal-Mart Stores from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research raised shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Thursday, July 13th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Wal-Mart Stores from a “neutral” rating to a “buy” rating and upped their target price for the stock from $78.00 to $84.00 in a report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $84.77.
Shares of Wal-Mart Stores, Inc. (WMT) opened at 87.98 on Wednesday. The firm has a market capitalization of $262.81 billion, a P/E ratio of 21.14 and a beta of 0.29. Wal-Mart Stores, Inc. has a one year low of $65.28 and a one year high of $88.92. The firm’s 50-day moving average is $81.64 and its 200 day moving average is $78.43.
Wal-Mart Stores (NYSE:WMT) last posted its quarterly earnings results on Thursday, August 17th. The retailer reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.01. The firm had revenue of $123.40 billion for the quarter, compared to analysts’ expectations of $121.86 billion. Wal-Mart Stores had a return on equity of 16.87% and a net margin of 2.60%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 EPS. Equities research analysts predict that Wal-Mart Stores, Inc. will post $4.37 earnings per share for the current year.
Wal-Mart Stores declared that its board has initiated a share repurchase program on Tuesday, October 10th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the retailer to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In other Wal-Mart Stores news, major shareholder Alice L. Walton sold 2,000,000 shares of the stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $79.47, for a total transaction of $158,940,000.00. Following the transaction, the insider now directly owns 6,748,580 shares in the company, valued at approximately $536,309,652.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director S Robson Walton sold 646,330 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $80.20, for a total value of $51,835,666.00. Following the transaction, the director now owns 3,344,956 shares in the company, valued at $268,265,471.20. The disclosure for this sale can be found here. Insiders have sold a total of 9,924,828 shares of company stock worth $785,676,492 over the last 90 days. Company insiders own 51.39% of the company’s stock.
About Wal-Mart Stores
Wal-Mart Stores, Inc is engaged in the operation of retail, wholesale and other units in various formats around the world. The Company operates through three segments: Walmart U.S., Walmart International and Sam’s Club. The Walmart U.S. segment includes its mass merchant concept in the United States operating under the Walmart or Wal-Mart brands, as well as digital retail.
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